Changing names is big business. Accenture, formerly Andersen Consulting changed their name due to legal reasons – very luckily, in retrospect! Bearingpoint was the name chosen for KPMG consulting. De Beers Industrial Diamonds changed its name to Element 6. The Royal Mail changed its name to Consignia and has now changed it back again. The name change back to the Royal Mail brand cost about £1m, compared with the £1.5m spent on the Consignia launch in 2001. Explore these websites.

Visit:
www.accenture.com
www.bearingpoint.com
www.e6.com
www.royalmail.co.uk
www.wolff-olins.com
www.dragonrouge.com
www.shinolas.com

Questions

1. Why do some firms change their names? Outline some of the possible reasons.
2. Outline the risks associated with changing names of a corporation.
3. Explain the difference between corporate image and corporate identity.